DFX: Crude Oil, Gold May Turn Lower as Risk Appetite Falters
Crude oil and gold prices may turn lower as US stock index futures decline, hinting at fading risk appetite ahead of the opening bell on Wall Street.
Commodities - Energy
Crude Oil May Vulnerable as US Stock Index Futures Decline
Crude Oil (WTI) $85.74 -$0.10 -0.12%
Prices bounced from support at $83.19 and are once again perched below resistance at the $87 figure. Risk trends point gently lower as US equity index futures tick down 0.2 percent. First-quarter earnings figures from Charles Schwab as well as People's United Financial Inc are due before the opening bell and may prove to set the tone in the near term. US TICS, Industrial Production, and weekly Jobless Claims reports headline the economic calendar.
Gold, Silver Reversal May Materialize as Risk Support Fades
Gold $1154.00 -$1.35 -0.12%
Prices have stalled after showing a Dark Cloud Cover bearish candlestick formation below resistance at $1161.80 but ebbing support from risk trends may open the door a move lower as US equity index futures decline ahead of the US trading day. Near-term support lines up at $1144.98.
Silver $18.35 -$0.11 -0.57%
As with gold, a Dark Cloud Cover candlestick pattern hints that a bearish reversal is brewing as long as prices remain below $18.61, the formation’s wick high. Initial support lines up at $18.25.
